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Happy St. Patrick’s Day. Or as my dad used to say…amateur night. Or was that New Year’s Eve…or maybe both. Seems the amateur and the professional Irish come out for the wearing and the drinking of the green.

Not only did St Patrick spread the message of Christianity throughout Ireland, he drove all the snakes into the sea…or so the legend goes. I maintain, there were never any snakes. Ireland is an island. How’d they get there…swim?

Fake snakes. Alright…it’s a metaphor for driving evil out of Ireland. But a pretty good story. How many pretty good stories are we still believing about our financial lives. How many fake snakes are constricting your finances?

Hey everybody, O’Grady here. Here’s a question I get a lot. What’s a Roth IRA paying right now? Or, something like, “I hear Roth IRAs aren’t very good…they’re not paying much right now.” Let’s take a look and break it down.

Well, the Roth IRA is not an investment, it’s an account type. Think…Individual, Joint, IRA, 401k, 403b, 529…and on and on. Those are all account types. And the account type determines how an investment is treated for tax purposes, not how much it earns or returns. Let’s take a look and break it down.

It’s possible you were too caught up in the IHOP vs IHOB debate to notice the Fed raised interest rates this week. The central bank upped the federal funds target rate a quarter point to 1.75% - 2.00% range. That’s the rate banks charge each other for overnight loans.

For my money, Fed Head Jerome Powell speaks in everyday language, a departure from previous fed-speak that required a panel of economists and TV pundits to parse.

Remember this old one…what’s the best way to make a million dollars in the stock market? Start with two million.

At first blush, that sounds like a knock on stocks. Kind of like, how do you leave Vegas with a million. Go there with two million.

But upon further review, I beg to differ. I think the old joke is really touting investing. If you start with two million dollars and you make a million, now you have three million. Your two million increased by 50%. A nice return, even though we’re not considering any time frame or any specific investment.

I fear I’m beating a dead horse here. Repeating the six words heard most often on the business channels this time of year. “Sell in May and go away”.

What does that even mean? It’s one of those old Wall Street stock market adages that may contain a hint of truth. And something financial media like to trot out every year about Kentucky Derby time. By the Preakness Stakes, I’m ready to put it back in the barn.

Moms…we all have one. Some of ours have left our lives here on earth. But they’ve left us with memories, lessons, and love.

And more than a few timeless tips about life and money.

I remember leaving the house as a kid to ride my bike to the shopping center so I could go to ToyKing and buy the latest Matchbox car. I can hear Mom advising me “don’t let your lawn mowing money burn a hole in your pocket, Terry”.

Here’s a skill every investor needs. When I say investor, I’m being exclusionary. This doesn’t apply to traders or speculators. This applies to long-term investors, the Warren Buffett-esque investor, the typical American investor who socks a little away every paycheck into their 401k or Roth IRA.

Here’s the skill. Yeah, the remote. As much as I enjoy Stuart Varney’s take on American capitalism delivered in a dulcet British accent, I don’t need to know about every so-called breaking news item to be a successful investor.

Are you feeling the pressure because you think time’s running out...time to save enough for retirement. You’re in your 50’s or early 60’s and your nest egg is all nest and no egg or your savings are nowhere close to that magic million dollar mark.

It’s easy to feel the stress. Especially if you fall for our culture’s conditioning that says you should retire at age 65. Or 62 or 67 or whatever age government benefits kick in.

Got your taxes done without having to file for an extension? Congratulations. That’s a great feeling.

Now you’re kicking back and waiting on the refund. Good for you. Here’s a few things to think about when trying to decide what to do with the money.

Do you have an emergency fund in place? That’s three to six months of living expenses set aside in a liquid account, ready for access at a moment’s notice. A true emergency. That way you won’t have to go to the credit cards when the car needs new tires, the refrigerator dies, or the roof leaks. A weekend in Vegas or a Cancun cruise is not an emergency.